Updated from 3:12 p.m. EST
After a session of mixed trading, stocks in New York ended higher Wednesday, as investors eyed the prospect of a bailout for the automakers and digested several disheartening economic reports.
The Dow Jones Industrial Average climbed 172.60 points, or 2.1%, to 8591.68, and the S&P 500 gained 21.93 points, or 2.6%, to 870.74. The Nasdaq tacked on 42.58 points, or 2.9%, to 1492.38.
Traders were closely watching the automotive sector as the Big Three U.S. car manufacturers continued to petition Congress for emergency funds. Ford (F Quote) and General Motors (GM Quote) on Tuesday had presented business plans to Congress in hopes of garnering a federal bailout. General Motors asked for $12 billion in low-interest financing and a $6 billion line of credit, and Ford requested $9 billion in government aid. ...
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